Jarrell Company began the year with $112,000 in its Common Stock account and a debit balance in Retained Earnings of $20,000. During the year, the company earned net income of $43,000 and declared and paid $8,000 of dividends. In addition, the company sold additional common stock amounting to $35,000. Based on this information, what is the ending Retained Earnings?
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Home » Business » Jarrell Company began the year with $112,000 in its Common Stock account and a debit balance in Retained Earnings of $20,000. During the year, the company earned net income of $43,000 and declared and paid $8,000 of dividends.